Puma’s Constructive Q1 Outcomes Point out Return to Pre-Pandemic Ranges – WWD

Although round a 3rd of Puma’s shops stay closed in Europe, the German sportswear model boasted gross sales development of 25.8 % within the first quarter of this 12 months.

Puma reported gross sales of 1.55 billion euros between January and March, a major enchancment on the identical quarter final 12 months, when the COVID-19 pandemic first hit.

In Q1 of 2019, the corporate reported gross sales revenues of 1.32 billion euros. The newest quarter represented a rise on gross sales of 1.52 billion euros within the final quarter of 2020, indicating an ongoing restoration over the previous six months.

“We really feel assured that 2021 will probably be a greater 12 months than 2020,” chief govt officer Bjorn Gulden mentioned in a press release. “Our goal continues to be maneuvering by means of this tough time in addition to attainable within the brief time period, with out hindering the mid-term momentum of Puma.”

Puma made most of its cash in its dwelling area, Europe, within the first months of the 12 months, with gross sales there totaling 572.4 million euros. That equaled a rise of 14 %, foreign money adjusted, in comparison with the identical time final 12 months.

Puma noticed a lot greater will increase within the Americas and in Asia-Pacific, with gross sales there rising 38.5 % and 28.8 % respectively.

Will increase within the Americas have been pushed by North America, the corporate mentioned, whereas the Asia-Pacific totals have been impacted by customers within the Higher China area. Puma recorded gross sales of 533.9 million euros within the Americas and 442.4 million euros within the Asia-Pacific territory.

As with many different corporations pressured to promote on-line in the course of the pandemic, Puma’s e-commerce gross sales continued to hurry ahead, rising 74.9 % within the first quarter alone. The corporate doesn’t reveal how a lot of its direct-to-consumer enterprise, which incorporates its personal shops, is made up of e-commerce, however direct gross sales rose 31.3 % general to 346.8 million euros.

Puma additionally recorded 116.7 % development in its EBIT to 154.3 million euros over the primary quarter. The massive development is a results of the truth that EBIT had halved over the identical quarter final 12 months, diving 50 % to hit 71.2 million euros. Nonetheless, the rise in EBIT nonetheless mirrored development of round 8 % when in comparison with extra secure occasions in 2019: Again then, Puma’s EBIT within the first quarter was 142.5 million euros.

In a press release, the corporate warned of turbulent occasions forward. Challenges embody ongoing lockdowns, retailer closures, worldwide relations and transport points, it mentioned. However it was assured sufficient to foretell development within the mid-teens for the remainder of 2021.

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